Pitney Bowes adds enhanced big data management capabilities to its Spectrum™ technology platform
STAMFORD, Conn., March 12, 2014 - Pitney Bowes Inc. (NYSE: PBI) today announced a new release of its flagship Spectrum™ Technology Platform, providing integrated data quality, data integration, master data management (MDM) and analytics capabilities to help organizations address their Big Data challenges from one, unified platform. This agile and flexible platform is designed to help organizations extract more value from their data to drive greater profitability, reduce risk and deliver more personalized and contextually relevant customer experiences.
In today’s fast-paced and competitive environment, businesses are challenged with drawing actionable insights from growing data sets locked in internal and external sources. A well-defined customer information management strategy can help unlock the value by optimizing interactions, reducing exposures and increasing operational efficiency.
Using the Pitney Bowes Spectrum Technology platform, global banks deliver personalized customer experiences across various business channels by establishing a single customer identity across the enterprise. Similarly, Pitney Bowes has helped retailers apply this technology to increase the efficiency of their catalogue mailing process by over 50 percent, with improved accuracy and reduced cycle time.
The benefit of this technology is that it allows clients to deliver trusted data and insights in context across touch-points to maximize the value of customer information. It does so by aggregating, cleansing and consolidating data from disparate sources and enriching it with corporate and third-party reference data. This high-quality data is modelled as knowledge graphs, built on graph database technology, which makes it easier for users to view, retrieve and use the key insights for better decision-making.
Knowledge graphs inherently provide the ability to create multi-dimensional views of information to address specific needs of various business stakeholders in organizations such as sales, marketing and compliance. In addition, business stakeholders prefer to view data in the context of their process and in-line with appropriate governance policies. For example, a knowledge graph can be used by a financial company to track a consumer’s spending pattern or it can be used by an insurance company to visually depict a customer’s risk profile.
“Clients today require more dynamic and flexible solutions to help them manage their customer information,” said Navin Sharma, Vice President of Product Management, Information Management Software and Solutions at Pitney Bowes. “We have a long and successful track record of providing our clients with technology to better understand, service and cultivate customer relationships. The new enhancements we have added to the Spectrum Technology Platform will further ensure that clients are well-equipped to unlock the value of their customer data where traditional approaches have failed.”
Key capabilities in this new release are as follows:
- Visual Data Modeling: Subject-matter experts model to the business outcome using an intuitive "white-boarding" approach delivered via a web UI. This provides an agile way to manage complex relationships and hierarchies and support better collaboration between business and IT functions.
- Process-centric Data Governance: With access to corporate data as well as external sources at their fingertips, business stewards are able to review and resolve issues quickly. They can also capture and visualize data quality trends against established key performance indicators (KPIs) to monitor the health of the data assets in context of their processes.
- Big Data Readiness: With the ability to handle large data sets, combined with advanced clustering and in-memory caching, organizations can process large volumes of data coming in at high velocity.
- Enhanced Entity Resolution: Advanced search coupled with matching algorithms against unstructured data, enables companies high-performance access to disambiguated information for building 360 degree customer views.
- Industry and Application Certifications: In the new version, support for several new standards and applications has been added. This includes support for HL7, the healthcare information standard, latest versions of SAP applications, NetSuite and postal certifications for CASS (US) and SERP (Canada).
Already, a number of large clients in financial services, insurance, retail and high-tech industries are implementing the latest version of Spectrum Technology Platform. For more than 30 years, Pitney Bowes has provided information management technology to companies across industries including financial services, insurance, retail, telecommunications and public sector. To learn more, visit http://www.pb.com/software/Customer-Information-Management/Resources/.
About Pitney Bowes
Pitney Bowes provides technology solutions for small, mid-size and large firms that help them connect with customers to build loyalty and grow revenue. Many of the company’s solutions are delivered on open platforms to best organize, analyse and apply both public and proprietary data to two-way customer communications. Pitney Bowes includes direct mail, transactional mail and call center communications in its solution mix along with digital channel messaging for the Web, email and mobile applications. Pitney Bowes: Every connection is a new opportunity™. www.pitneybowes.com/au